Top Stories

A Budget of Failure

The new budget that was introduced recently by the Liberal government in Canada, came along with a $30 billion dollar deficit. This adds on to the hundreds of billions of dollars in debt that Canada is already facing. Surprisingly, there wasn't any mention of funding for legalization efforts in Canada as well as funding for any watchdog efforts for Canada's two biggest spy agencies CSIS and CSE.

One of the biggest issue for Canadians is that many of them are not able to afford a home. The average cost of a home for a family in the lower mainland, is at least $400,000 or more. A variety of financial experts say that Canada's real estate is “grossly overvalued,” and they warn that the nation does have an expanding real estate bubble and they've been waiting for it to pop for some time now. So long as Canada continues with the same failed monetary experiment, Canadians are going to see things only become more expensive as they continue to lose purchasing power of their currency. Therefore, the solution offered from the Liberals to toss roughly $375 million toward affordable housing isn't going to solve the problem in the long-run. Never mind crafting any real solution that might help to offer every single Canadian a better standard of living, by attempting to do something that might restore the value of their purchasing power; and hence make it easier for them to afford a house.

Trudeau's party campaigned heavily on the legalization ticket, and this promise is the main reason that many people voted for him. Yet, to the surprise of many, there wasn't any mention of legalization within the budget. Now that he is comfortably positioned as Prime Minister however, we are finding out that his intentions of legalization might not be realized as many suspected. The Liberal government has made it clear that they are going to take their time and not be rushed on this matter. When it comes to making decisions for the benefit of Canadians, and acting in a way that supports the sovereignty of this country, the Liberals are clearly having a hard time trying to realize their promise of legalization.

Not all of the budget was negative however; if you are going to spend taxes on anything then it might as well be on programs and services which go toward helping the people. But wouldn't those people have benefited more from infrastructure (and other) loans that are given to them interest-free though? Instead of being locked into an arrangement which saddles them with billions in debt for the future? If the Trudeau government really wanted to help Canadians, then perhaps they would've performed differently in court when it came to upholding the interests of Canadians in the Bank of Canada lawsuit.

Recent polls show that Canadians are mostly supportive of the new budget and responded by saying that they too would pass the budget, even though many of them don't agree with the $30 billion deficit.